Devix Press Release
At Devix, Everyone Is a Partner
Jersey City, NJ April 5, 2007
Devix is delighted to announce effective March 27 Devix became a 100% employee-owned company through a stock purchase plan for all employees. The plan, which grants Devix employees the right to buy company stock at a specified price, is more than a business strategy. To Devix CEO Ron Wilkins, employee-ownership is also a natural extension of his open-book management style. Wilkins and CTO Guy Praisler agree that this milestone in the New York/Jersey City based, ecommerce solutions provider is the realization of a dream at the end of a long journey.
“It’s no secret” said Gil Broitman, COO, “that a private company offering employee stock purchases is positioning itself to go public at some future date, but history has proven there are no guarantees, and our people are fully aware of this.” Nevertheless, they are no less excited about being owners and participating in the corporate culture Wilkins has promoted at Devix. Wilkins believes that being employee-owned is a clear demonstration of commitment on the part of Devix employees to their clients and to the growth of the company. Research cited onthe National Center for Employee Ownership website supports this view. Studies have shown that when employee ownership is combined with a management style that encourages employees to share ideas and information, companies grow 6% to 11% faster, per year, than would otherwise be expected.
Many stock purchase plans in private companies are made available only to a select few. Under the Devix plan, every single employee is given the opportunity to participate and, to date, everyone has. They, under the leadership of Wilkins and Praisler, are banking on the 2007 release of The Devix Commerce Suite, an end-to-end software solution for online retailers, to prove the research right.
About Devix Corporation
Devix Corporation provides impactful business process management solutions for small to medium size enterprises. Their unique and popular solution continually facilitates industry leading growth and improved profitability for its clients. Devix clients generate over $1.5 billion annually in online commerce.
Peggy McGuinness 201-705-1531
Director of Communications 10 Exchange Place, 10th Floor
Peggy@Devix.com Jersey City, NJ 07302